Survey: Financial advisers don't always draw up formal statements
Six out of 10 financial advisers said they don't create a formal investment policy statement for every client, and a similar proportion said their clients wouldn't maintain such a plan, according to a Russell Investments survey. Wealthier clients were most likely to receive a written plan, according to the survey. "One of the best ways an adviser can fulfill their fiduciary duty and encourage a client to stick to a long-term, disciplined plan is to develop a statement of their objectives and related recommendations," said Rod Greenshields of Russell Investments. InvestmentNews (free registration)
Report: Women take on less financial risk than men do
Women tend to invest more conservatively than men do, and the tendency could raise the possibility that women will reach retirement without enough money, a report says. Men invest in higher-yielding vehicles and have larger retirement-account balances than women, the report from SaveUp.com says. "Insufficient market exposure is going to cause a compounding gap over time," said Priya Haji, CEO of SaveUp. CNBC
Study: Under-30 crowd lacks knowledge of mutual funds
Affluent young investors aren't as familiar with mutual fund companies as older investors are, and they don't understand what the funds have to offer, a study indicates. To reach investors under 30, mutual fund providers must start "engaging with them meaningfully in places and through media where they spend their time and energy," says Meredith Lloyd Rice of Cogent Research, who authored the study. AdvisorOne
Experts discuss how to plug 401(k) leakage
Getting to the root causes of 401(k) leakage is essential if U.S. workers are going to enjoy a secure retirement, experts told a Senate committee. Most 401(k) withdrawals are used to avoid circumstances such as foreclosure, but cash-outs and permanent withdrawals are far more damaging to retirement security, said Alison Borland of Aon Hewitt. A lack of other savings, such as for college and emergencies, also puts many Americans at risk for an underfunded retirement and is prompting more employers to discuss financial wellness, experts said. InvestmentNews (free registration)/The INsider blog
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Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
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Investor app will let users mimic Buffett and other billionaires
A mobile application called iBillionaire will let ordinary investors track the activity of 10 billionaires, including Warren Buffett, Carl Icahn and David Einhorn. The app, available next week, is built on investment data available through 13-F filings with the Securities and Exchange Commission, and it offers investment suggestions. MarketWatch
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